Living below your means

Hardup_Hester

I well remember the days when mortgage rates were 15% When I was applying for a mortgage 4 years ago, one of the mortgage advisors who was about 12, told me there was no chance of the interest ever going above 6% as it never had! I told him that I remembered paying 15% & he implied I'd imagined it, needless to say I got my mortgage elsewhere.

kippers

I remember the interest rate rise to 15% in 1989. Me and my first husband lost £15000 on our first house when the house prices rose and then fell sharply. When we split up in 1994 we only just broke even on our 2nd house and i walked away with no profit what so ever (even though i'd paid £500 per month morg for 5 years).

Me and my new partner of 13 years have just re- morgaged and we were very careful and thought loads about it first.

GreenNinja

I had a huge wake up call regarding living within my means in October last year when I moved out of the marital home into my own place. Life with my ex had got to a point where I was only working 30 hours a week, I spent every saturday clothes shopping, and always went out for a meal at least 3 times a week, 3 courses with coffee and unlimited booze all paid for by hubby and all top class places. As he had his own garage also got my car and motorbike, repaired, serviced and MOTd for free.

In January/February of this year, I realised I was living WAY above my new means and was still living on the old! Had a credit card bill of two thousand pounds and was spending more than I earned. Luckily I stumbled across this site.

I am now HUGELY careful with my money, coast the car where I can to save fuel, or if possible walk, shop very carefully taking advantage of the reduced section and own brands, all food is made from scratch, don't go out that often and when I do think carefully about how much I am going to spend, usually drive to safe taxi fares etc. Meals out now are usually one course only with one glass of wine somewhere quite cheap. Have done a car boot sale this year and sold few items on ebay and banked the money in savings. For Christmas this year have got some bargains at car boot sales etc and am also making some gifts. The biggest difference has been on the clothes shopping spending front, have had to relook at my wardrobe and old clothes that had been rejected to try and make new outfits etc. When I do buy clothes now they are in the sale and reduced rails or from car boot sales. The only thing I still have to pay full price for is trousers and jeans as I have a 34" inside leg! I really look after my car now whereas I never bothered before, I wash it and hoover out regularly etc and keep it in good condition mechanically, luckily the ex still looks after the car and bike though I have to pay him now.

I look forward to reading more money saving tips on the site!!

badkitti

Just one more tip that i haven't seen.

Turn down the water temperature (switch is on the storage tank in the airing cupboard I think) as no one needs water at 70 degrees C.

Hardup_Hester

There have been comments on here about whether or not people choose to live on benefit.
Our neighbours were in the Sun & on TV, they have 12 children & get £40K in benefits, they set fire to their house recently & have been given a bigger one, with 8 bedrooms.

boo81

Well ive found that lately things have been easier, myself and my boyfriend have joined a gym together and go at weekends for at least 2 hours on one of the days, during the week I go every other day:

We feel better about ourselves and have been having lighter meals hence no takeaways
Gives me a little energy boost so I dont feel too tired
We dont use our shower so much so save money there, also use their shampoo.
I eat slightly less in the evenings too

All round it has really helped. We now have decided to treat ourselves to a takeaway every 4 weeks and a quality meal out every 4 weeks so always something to look forward to. Overall even though we have the outlay for the gym its saving us money in other ways (my membership was through pruhealth so very cheap) and making us feel better and not eat crap!

BusyGirl

I've just read this thread and thought it was fascinating! Thanks.:D

mossstar

Here in NZ the 'floating' mortgage rate is 10% and set to rise again.... *sob*

Hardup_Hester

oh no, hugs mossstar, I hope you cope ok
Hester

Bambywamby

My self and my DP live below our means as we save and pay off the mortgage.
However it's not only a money thing - it's a health, morality and good living thing.

How can you beat healthy, home cooked food?
How good can you feel not spoiling the kids, recycling for the earth and using less of it's resources?
How wonderful is it to admire your old style handiwork? Cooking, crafts, repairs, DIY, gardening etc

And to be honest I get a bit of a kick out of being careful with money, recycling and living a wholesome lifestyle. (Well most of the time anyway )